Tag Archives: AUD/USD
Europhoria fades a bit as a new week dawns
Last week’s EU summit did offer surprises – but also poses questions. We’re also back to the grind of a fresh batch of ugly manufacturing data around the world, reminding us of the weak global growth predicament.
Behavioral Finance: Daily Forex Outlook: This EU summit does not fit the mould
EUR USD (1.2625) After a weekend of reflection following the EU summit, it is being claimed by many prominent commentators that Germany’s Chancellor managed to keep the overall liabilities for her country unchanged.
Daily FX Technical Strategy: Downbeat mood fails to lift
Heavy volumes in FX markets on Friday combined with wide trading ranges in many USD markets point to squaring out of long positions.
AUD/USD Analysis
The AUD/USD was lower in Asian trade Monday, weighed in part by the continued weakness in China’s official manufacturing PMI data.
Asian Currencies Technicals
AUD/USD: Shift in focus targets April highs. Close above the key $1.0220 level sees focus on a higher levels targeting the $1.0469 April monthly highs with a close back below the $1.0150 level needed to shift immediate focus back to the parity region.
Behavioral Finance: Daily Forex Outlook: EU summit expectations may have been too low
EUR USD (1.2575) Given the ultra-low market expectations for the EU summit, even a very modest softening in Germany’s tough stance would have been enough to surprise positively.
Technical Analysis
It’s all about the EU summit. Technically no changes only an opportunity to get in at better levels we think. EURUSD look for offers around 1.2625, same for AUDUSD around 1.0170,
Asian Currencies Technicals
AUD/USD: Focus remains on lower levels. With the AUD again rejected on a bounce, this time ahead of the spike low from June 20, initial focus remains on tests of the 21 day MA and then potentially the 2012 lows.
Behavioral Finance: Daily Forex Outlook: EU summit may yet deliver a modest upside
EUR USD (1.2510) Market expectations for any policy solution from the latest EU summit are exceptionally low. The general impression seems to be that the meeting will deliver a roadmap to the roadmap.
AUD/USD Analysis
The AUD was higher against the dollar in Asia Thursday, sitting on the session highs into the European open. AUD/USD was higher from the getgo, helped by talk of options demand from $1.0085, helping push the pair through $1.0100, triigering small stops, although most stops triggered on a break abobe $1.0110.
Asian Currencies Technicals
AUD/USD: Struggling to regain lost ground topside. A relatively subdued day for the Aussie yesterday with it struggling to surmount the $1.0080-90 region.
Behavioral Finance: Daily Forex Outlook: German ‘No’ seems already priced in
EUR USD (1.2495) The euro slumped to its day-low yesterday after unconfirmed reports suggested that German Chancellor Merkel appears to have estimated her own longevity as higher than the probability of eurozone countries sharing debt liability.